Chancery Orders Release Of $3M To Seller Of Boeing Supplier

Law360 (November 1, 2019, 6:51 PM EDT) -- The Delaware Chancery Court on Thursday ordered Accurus Aerospace Corp. to release $3 million previously held in escrow to the founder of a major Boeing Co. aerospace parts supplier it acquired in 2016.

Vice Chancellor Morgan T. Zurn's order resolved a dispute between Accurus, private equity firm Liberty Hall Capital Partners LP's investment arm in the area of aerospace parts supplies, and Bradley E. Julius, the founder of a manufacturer of large, complex precision aerospace parts and assemblies in Kansas.

When Accurus offered Julius $80 million to acquire his company, ZTM Inc., in 2016, ZTM touted itself as Boeing's "second-largest interior...

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